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BRIEF-RPT-Pyrogenesis to spin-off Additive manufacturing unit into independent public company

Published 2016-04-07, 01:18 a/m
© Reuters.  BRIEF-RPT-Pyrogenesis to spin-off Additive manufacturing unit into independent public company

April 7 (Reuters) - Pyrogenesis Canada Inc PYR.V
* In consideration of a non-compete agreement to be entered
with 3dco, pyrogenesis will, in addition, receive royalty
payments of up to 10% of powder production revenues from 3dco
(removes extra letter)
* Off additive manufacturing (3d printing) into an
independent public company
* Board of directors approved plan to spin-off 80% of its
additive manufacturing business into independent
publicly-traded co
* Name of spun off co shall be determined at later date but
for purposes herein, will be referred to as "3dco"
* 3Dco is expected to be in commercial production as early
as q3 2016

Source text for Eikon:
Further company coverage: PYR.V

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